MelodieWarner

The Northeast regional provider of diagnostic testing for physicians has consistently posted double-digit-percentage revenue growth by serving more patients and growing its portion of esoteric testing, an analysis of rare substances or molecules that isn't performed by most clinical labs. More recently, Bio-Reference has seen growth in its oncology business while its genetics laboratory, GeneDx, continues to develop new services and products.

For the quarter ended April 30, Bio-Reference reported a profit of $9.31 million, or 33 cents a share, up from $7.82 million, or 28 cents, a year earlier. Revenue jumped 17% to $163.4 million.

Analysts polled by Thomson Reuters had most recently forecast earnings of 32 cents on revenue of $161 million.

Gross margin rose to 48.6% from 47.7%.

Revenue per patient rose 2.3% and the number of patients served jumped 16%. The esoteric business accounted for 59% of revenue.

Shares closed Wednesday at $21.93 and were inactive premarket. The stock is up 35% so far this year.

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